Moved by
Lord Newby
6: Clause 51, page 22, line 21, leave out “create exceptions to subsection (1)” and insert—
“(a) create an exception to subsection (1) in the case of a member or survivor whose subsisting rights in respect of safeguarded benefits under the scheme, or safeguarded benefits under the scheme and any other schemes, are worth less than a specified amount;
(b) create other exceptions to subsection (1).
( ) Regulations under subsection (3)(a) may, in particular, make provision about—
(a) the valuation of the subsisting rights;
(b) the process for determining whether the exception applies.”
7: Clause 51, page 22, leave out lines 31 and 32 and insert—
““appropriate independent advice” means advice that—
(a) is given by an authorised independent adviser, and
(b) meets any other requirements specified in regulations made by the Department for Social Development in Northern Ireland;
“authorised independent adviser” means a person who—
(a) has permission under Part 4A of the Financial Services and Markets Act 2000, or resulting from any other provision of that Act, to carry on a regulated activity specified in regulations made by the Department for Social Development in Northern Ireland, and
(b) meets such other requirements as may be specified in regulations made by the Department for Social Development in Northern Ireland for the purpose of ensuring that the person is independent;”